Pat Pollan of Yancey-Hausman in Houston, the county's broker,negotiated a deal that would allow the county to buy the 13013Northwest Freeway property for $100 at the end of the lease. Theseven-story building and three-level parking garage were selectedearlier this year from a roster of 13 properties generated byHCAD's request last summer for proposals for a new location.

Longtime owner Fairfield Financial Group, a local subsidiary ofChicago-based First Bank of Oak Park, won the county's nod with the20-year lease/purchase plan, but then decided to sell rather thanhandle development. Fairfield struck a pass-through deal withlocally based Midway Cos. because it had the asset under contracttwo years ago, says Jonathan Brinsden, Midway's executive vicepresident. The property and the county agreement changed handsApril 30. Brinsden tells GlobeSt.com that the all-incost--acquisition, renovation and buying out HCAD's three-yearlease balance--totals about $28.5 million.

HCAD's plan is to relocate by Jan. 1, 2005, from a 180,000-sfoffice that it's occupied since 1986 at 2800 N. Loop West. Thestructure was vacated several years ago by Cooper Cameron.